Economic rent is the amount of money above and beyond that necessary to keep the factor of production employed where it is.

Name: Economic rent is the amount of money above and beyond that necessary to keep the factor of production employed where it is.
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Economic rent is the amount of money paid for a factor of production (such as land or labor) that exceeds the minimum amount necessary to keep that factor employed in its current use.

Economic Rent Is the Amount of Money Above and Beyond